German based Cosnova Beauty is continuing to grow more rapidly than the cosmetics market. In 2015, the company’s net sales grew by 13 % to reach 316.6 million euros, compared to 279.3 million euros in 2014.
In addition to strong international growth, Cosnova Beauty was also able to increase its market share in Germany by 6.5 percentage points in terms of value and by 6.7 percentage points per sold unit for both brands, according to AC Nielsen. As a result, Cosnova Beauty achieved a volume market share of 36.3 %, the highest result since founding the company in 2001. Every third cosmetics product sold in Germany is a Cosnova Beauty product.
“We can look back on an extremely successful fiscal year 2015. Despite new competition and a stagnating market growth, we were not only able to grow in our core market in Germany, but with a share in sales of almost 55 %, the foreign market has become our strongest sales region,” reports Hilko Prahl, Managing Director of Cosnova Beauty.
The cosmetics manufacturer markets two makeup brands: Catrice, available in almost 60 countries, and Essence, available in over 80 countries. According to Euromonitor International, Essence is the world’s largest decorative cosmetics brand in the lower price segment and the largest decorative cosmetics brand across all price segments in Europe .
In 2015, the main drivers of sales across all markets were the gel nail polishes by Essence, which are based on an innovative 3-step-system and have received multiple national and international awards such as the Pure Beauty Awards since their launch. Therefore, one of Cosnova Beauty’s aims for 2016 is to launch and establish further innovative product lines like the Prime and Fine Professional Contouring Palette by Catrice on the markets.
For the fiscal year 2016, the Managing Directors Christina Oster-Daum, Javier González, Mathias Delor and Hilko Prahl plan to achieve yet another double-digit growth in sales.
“In January 2016, we started using our new, fully automated high-bay warehouse with sufficient space to store 43,000 palettes. This means that we fulfill the logistical requirements for further growth,” states Andreas Erbe, Managing Director of CNL GmbH, Cosnova Beauty’s own distribution centre.
Cosnova Beauty also has high expectations regarding the North American market, where distribution has recently been increased significantly. “Essence was introduced in 555 Target stores as well as in Target’s accompanying online store (Target.com) in January 2016. We are optimistic about our developments on the North American market and looking forward to seeing what the year brings for us,” reports Jeffery Wagstaff, General Manager of Cosnova Inc.